Uganda is set to benefit from millions of dollars in investment from a dozen Iranian firms that have shown keen interest in investing in the country.
The Iranian delegation was led by the Vice-President for Science and Technology, Sorena Sattari who headed a high-ranking delegation comprised of officials and heads of 45 knowledge-based companies.
The investment arrangement coordinated by the Ministry of Science , Technology and Investment under the 1st Iran-Uganda Economic Forum took place at Sheraton Hotel in Kampala. The event was officially opened by the Minister for Science,Technology and Innovation Hon. Elioda Tumwesigye
The Iranian Vice President was accompanied by representatives from ministries of Health, Science, Foreign Affairs, as well as Trade Promotion Organization, Export Development Bank, and heads of 45 knowledge-based companies active in the field of exports to East African markets.
Uganda Investment Authority Director of Investment Promotion Sheila Mugyenzi made a presentation outlining the vast opportunities that awaited the investors for considering Uganda. She said Uganda and India were in the next few years poised to be the world’s fastest growing economies with GDP growth averaging 7.7% presenting attractive commercial opportunities.
Elioda Tumwesigye assured the Iranian delegation that Uganda had a huge growing population that would provide a sizeable market for their products and services.
The companies that have shown interest in investing in Uganda are active in various sectors including health, medical equipment, herbal and chemical medicine, ICT, chemical industry, electronics, advanced technologies, technical and engineering services, pharmaceuticals and mining industry.
The forum also provided a platform for Iranian knowledge-based companies and corresponding companies from Uganda during which the sides exchanged views and signed a number of memorandums of understanding.
The Iranian Vice President Sattari also held talks with Uganda’s President,his counter-part, the Minister of Science and Technology, Minister of Agriculture, as well as the State Minister of health.